Value Engineering & Cost Reduction Engineer

Description
We are seeking a Value Engineering & Cost Reduction Engineer to identify, evaluate, and implement strategic cost-reduction opportunities across our product portfolio. This role partners closely with engineering, sourcing, manufacturing, quality, and suppliers to reduce product costs while maintaining or improving performance, quality, reliability, and compliance. The ideal candidate has a strong understanding of electronics hardware design, manufacturing processes, and cost structures, along with a passion for driving measurable business value through data-driven decision making and cross-functional collaboration.
Requirements
Key Responsibilities:
Cost Engineering & Should-Cost Modeling
Develop and maintain should-cost models for products, key subassemblies (power stages, magnetics, thermal systems, housings), and commodity categories (sheet metal, plastics, weldments)
Establish BOM cost targets at the start of each new product program and track performance through NPI gate reviews
Analyze product cost structures (BOM, labor, overhead) to identify reduction opportunities
Identify the highest-cost functions and components using Pareto analysis and drive targeted reduction initiatives
Build and manage a structured savings pipeline; report regularly on project progress and potential and realized savings to leadership
Partner with supply chain and procurement on supplier negotiations and cost-down initiatives
Champion Design-to-Unit-Production-Cost (DTUPC) principles throughout the product development lifecycle
Quantify and validate cost savings opportunities through detailed business case analysis and benefit tracking
Support annual cost-reduction objectives through execution of a prioritized VA/VE roadmap
Design for Manufacturability & Assembly (DFM/DFA)
Participate in design reviews to identify opportunities to reduce part count, simplify assembly, and improve yield
Engage contract manufacturers and internal operations teams to identify and resolve DFM issues early in the design cycle
Drive component standardization across product lines to reduce unique part count and increase purchasing leverage
Evaluate PCB layout, mechanical designs, and thermal solutions for cost and assembly efficiency
Collaborate with design engineers to optimize component selection, circuit design, and mechanical design for cost
Value Engineering Leadership & Collaboration
Plan and facilitate Value Analysis / Value Engineering (VAVE) workshops with engineering, procurement, operations, and quality
Translate workshop outputs into prioritized action registers with clear owners, timelines, and business cases
Champion a cost-conscious design culture by embedding VE thinking into standard engineering workflows and gate reviews
Alternate Component Qualification & Supply Chain
Identify and qualify alternate or second-source components to reduce cost, lead time risk, and single-source exposure
Partner with procurement on supplier negotiations, using should-cost models to support target pricing
Evaluate alternate components, materials, and suppliers to reduce cost and improve supply resilience
Reliability, Qualification, & Change Management
Ensure all cost reduction initiatives maintain or improve product functionality, reliability, quality, safety, and regulatory compliance
Lead or support the Engineering Change Order (ECO) process for VE-driven design changes
Coordinate with engineering teams to define and execute appropriate validation testing (bench, thermal, EMC, reliability) for component and design changes

Qualifications
Required:
Bachelor’s degree in Electrical Engineering, Mechanical Engineering, or related field
5+ years of experience in hardware product development, manufacturing, or cost engineering
Demonstrated success leading design-to-cost, value engineering, and cost-reduction initiatives for hardware products
Experience with power electronics, energy systems, industrial equipment, utility-scale products, or similar hardware platforms
Experience working in a fast-paced, high-volume manufacturing environment
Strong understanding of component costing, product cost structures, and manufacturing processes
Proficiency with BOM structures, BOM management tools, and ERP/PLM systems (SAP, Oracle, Arena, or equivalent)
Familiarity with component lifecycle management and alternate sourcing processes
Ability to work cross-functionally and influence design decisions
Strong analytical and quantitative skills; comfortable building and using cost models in Excel or similar tools
Preferred
Experience establishing VA/VE functions or cost engineering processes from the ground up
Knowledge of commodity cost drivers for electronics, magnetics, sheet metal, plastics, and custom electromechanical assemblies
Experience working with contract manufacturers (CMs/EMS) and custom supply chain partners (magnetics, busbars, custom enclosures)
 Knowledge of PCB design, magnetics, power semiconductors, or thermal/mechanical design
Competent with Python scripting, data analysis, reporting, and dashboard tools
Familiarity with should-cost modeling and product cost management tools (aPriori, Costimator, SEER, or similar), and component intelligence platforms (SiliconExpert, Octopart)
Background in or exposure to Lean Manufacturing, Six Sigma, or continuous improvement methodologies
Experience using engineering simulation tools such as LTspice, PLECS, ANSYS, or equivalent is a plus
Benefits
401(k) with company matching
Medical, dental, and vision insurance
Disability and life insurance
Flexible Spending Account (FSA)
Employee Assistance Program (EAP)
Paid Time Off (PTO)
Tuition reimbursement
EPC Power is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.